Mar, 31, 2021 — ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) is a federal credit union headquartered in BLOOMFIELD, NJ with 1 branch location and about $16.94 million in total assets. Opened 85 years ago in 1936, ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) has about 2,482 members and employs 7 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 125 FRANKLIN ST. BLOOMFIELD, NJ 07003-5730 |
| Phone: | (973) 748-8847 |
| Fax: | (973) 748-8846 |
| Website: | http://www.ectcu.org |
| Branches: | 1 branch locations |
| Members: | 2,482 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 1131 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1936 |
| Last Audited: | Feb 01, 2019 |
| FHLB Member: | No |
| Low Income Designation: | No |
| Assets: | $16,938,403 |
| CEO/Manager: | Robert D Steeves |
| Chairperson: | Kenneth King |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 971,661 |
| TOTAL INVESTMENTS | 6,574,826 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,059,567 |
| Unsecured Loans | 3,523,749 |
| Other Loans | 3,442,883 |
| TOTAL LOANS | 9,026,199 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -104,834 |
| Land And Building | 176,368 |
| Other Fixed Assets | 46,217 |
| NCUSIF Deposit | 118,578 |
| All Other Assets | 129,388 |
| TOTAL ASSETS | 16,938,403 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 198,890 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,739,774 |
| Regular shares | 11,124,746 |
| All Other Shares & Deposits | 2,663,034 |
| TOTAL SHARES & DEPOSITS | 15,527,554 |
| TOTAL LIABILITIES | 15,726,444 |
| Regular Reserve | 419,836 |
| Other Reserves | 0 |
| Undivided Earnings | 792,123 |
| TOTAL EQUITY | 1,211,959 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 16,938,403 |
| INCOME & EXPENSE | |
| Loan Income | 150,685 |
| Investment Income | 14,918 |
| Other Income | 11,911 |
| Total Employee Compensation & Benefits | 76,932 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 86,083 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 15,000 |
| Cost of Funds | 3,323 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 19,798 |
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